Creative Planning Decreases Stake in Greif, Inc. (NYSE:GEF)

Creative Planning lessened its holdings in shares of Greif, Inc. (NYSE:GEF) by 6.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,606 shares of the industrial products company’s stock after selling 654 shares during the quarter. Creative Planning’s holdings in Greif were worth $602,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its stake in Greif by 71.9% in the 2nd quarter. Quarry LP now owns 545 shares of the industrial products company’s stock valued at $31,000 after purchasing an additional 228 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Greif in the 2nd quarter valued at approximately $64,000. DekaBank Deutsche Girozentrale increased its holdings in Greif by 80.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 1,258 shares of the industrial products company’s stock valued at $73,000 after buying an additional 561 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Greif during the 2nd quarter valued at about $80,000. Finally, Quest Partners LLC increased its position in Greif by 27,766.7% in the second quarter. Quest Partners LLC now owns 1,672 shares of the industrial products company’s stock worth $96,000 after buying an additional 1,666 shares during the period. Institutional investors and hedge funds own 45.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James initiated coverage on Greif in a research note on Friday, July 19th. They set a “market perform” rating on the stock. StockNews.com downgraded shares of Greif from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Truist Financial reaffirmed a “hold” rating and issued a $67.00 price objective (down from $69.00) on shares of Greif in a research report on Friday, August 30th. Bank of America lowered their price objective on shares of Greif from $77.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $88.00 target price on shares of Greif in a report on Monday, August 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.00.

Greif Stock Performance

Shares of GEF opened at $62.38 on Tuesday. The stock has a market cap of $2.94 billion, a P/E ratio of 13.56 and a beta of 0.91. Greif, Inc. has a 52 week low of $55.95 and a 52 week high of $71.36. The company has a quick ratio of 1.28, a current ratio of 1.70 and a debt-to-equity ratio of 1.35. The business’s 50 day moving average price is $62.30 and its 200-day moving average price is $62.03.

Greif (NYSE:GEF) last issued its earnings results on Wednesday, August 28th. The industrial products company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.14). Greif had a return on equity of 13.28% and a net margin of 4.99%. The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.43 billion. Equities research analysts anticipate that Greif, Inc. will post 4.2 earnings per share for the current fiscal year.

Greif Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th were paid a dividend of $0.54 per share. The ex-dividend date was Monday, September 16th. This is a positive change from Greif’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.46%. Greif’s dividend payout ratio is 46.96%.

Greif Company Profile

Greif, Inc engages in the production and sale of industrial packaging products and services worldwide. The company operates through Global Industrial Packaging; Paper Packaging & Services; and Land Management segments. The Global Industrial Packaging segment produces and sells industrial packaging products, including steel, fiber, and plastic drums; rigid and flexible intermediate bulk containers; closure systems for industrial packaging products; transit protection products; water bottles, and remanufactured and reconditioned industrial containers; and various services, such as container life cycle management, filling, logistics, warehousing, and other packaging services to chemicals, paints and pigments, food and beverage, petroleum, industrial coatings, agriculture, pharmaceuticals, mineral product, and other industries.